I didn't mean to come off as a jerk, because I am not. My posts can become lenghtly so I just made it plain and simple. To build a high powered 305 naturally aspirated, it would be pretty radical too. Radical and streetable is 2 different things.
A stock 305? 4 to 6psi, depending on how you tune it. It would be best to rebuild it w/blower pistons, good rods and stud the heads and lower end. It would get pretty pricey to build a blower motor, but it would run verry strong. The bad part is that it would still be a 305.
Instead of all that trouble it would be cheaper to find a 350 block (a 400 would be way better) and slowly build it up for future use. Balanced rotating assemblys aren't priced too bad now days, you could even get a 383 kit pretty reasonable. Get it to the point where it is short-blocked and put some good heads (AFRs) on it.
To go one step farther, if you could find a s.b.400, it would make tons of torque more. I have built many 350s and 400s, from stock to wild, you can tell the difference in bigger cubes. With bigger displacements you can run a bigger cam, intake, headers, etc... and get away with it. A radical combination for a 305 woul make for a mellow 400.
I built a mild 400 for my last ride. When I super charged it, it really came to life. I spent $2100 on the block and heads to build a strong motor, another $5000 went into the fuel system and blower to make it brutal.
http://bartonekdragracing.com/gene_biscayne
It's always a tough choice on what to build. Bigger is always better.
---TEX---